SLOW DOWN IN BUYER DEMAND

Price growth continues to slow. The auction clearance rate last week, mid May, was around 4% and there were a number of properties withdrawn. Interest rates are expected to rise further and that will put pressure on price growth. The market still maintains some good prices. There has been a slow down in buyer demand and price growth. In Caringbah South the median days on the market is 44 days in the last month.